Can Singapore’s property market find its way out of the perfect storm?

SINGAPORE (Nov 22): Once an investor favourite just a few years ago, Singapore has now sunk to “near the bottom” of the rankings it once topped while struggling with overcapacity, falling demand and a slump in its residential sector.

This is according to the Emerging Trends in Real Estate Asia Pacific 2017 report, a real-estate forecast jointly published by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).

Decline in ranking ‘not unexpected’
Based on the report’s findings, Singapore currently ranks at 21st place in investment and 22nd in development on a global scale. These poor rankings are attributable to a combination of economic weakness, excess supply, declining demand, and a residential market where prices have now fallen for 12 straight quarters has created a “perfect storm” for the city state – which also the only Asia Pacific (APAC) market that is suffering a cyclical downturn.

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